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200304998 or regulation that governs the same subject matter. As used in this Security Instrument, "RESPA" refers to all requirements and restrictions that are imposed in regard to a "federally related mortgage loan" even if the Loan does not qualify as a "federally related mortgage loan" under RESPA. (Q) °Successor in Interest of Borrower" means any party that has taken title in the Property, whether or not that party has assumed Borrower's obligations under the Now and/or this Security Instrument. TRANSFER OF RIGHTS IN TTIF. PROPERTY This Security Instrument secures to Lender: (i) the repayment ofthe Loan, and all renewals, extensions and modifications of the Note; and (ii) the performance of Borrower's covenants and agreements under this Security Instrument and the Note. For this purpose, Borrower irrevocably grants and conveys to Trustee, in trust, with power of sale, the following described property located in the County of Hall [Type of Recording Jurisdiction] [Name of Recording Jurisdiction] Lot Twenty Two (22), Western Heights Third Subdivision, in the City of Grand Island, Hall County, Nebraska. which currently has the address of 1724 Bridle Lane [Street] Grand Island ,Nebraska 68803 ( "Property Address "): [City] [Zip Code] TOGETHER WITH all the improvements now or hereafter erected on the property, and all easements, appurtenances, and fixtures now or hereafter a Part ofthe property. All replacements and additions shall also be covered by this Security Instrument. All ofthe foregoing Is referred to in this Security Instrument m the "Property." BORROWER COVENANTS that Borrower is lawfully sewed ofth , estate hereby conveyed and has the right to grant and convey the Property and that the Property is unencumbered, except for encumbrances of record. Borrower warrants and will defend generally the title to the Property against all claims and demands, subject to any encumbrances of record. THIS SECURITY INSTRUMENT combines uniform covenants for national use and non - uniform covenants with limited variations byjurisdiction to constitute a uniform security instrument covering real property. UNIFORM COVENANTS. Borrower and Lender covenant and agree as follows: 1. Payment o(PrincTi A interest, Escrow Items, Prepayment Charges, and late Charges. Borrower shall pay when due the principal of, and interest on, the debt evidenced bythe Note and any prepayment charges and laze charges due under the Note. Borrower shall also pay funds for Escrow Items pursuant m Section 3. Payments due under the Now and this Security Instrument shall be made in U.S. currency. However, ifanycheck or other instrument received by Lender as payment under the Note or this Security Instrument Is returned to Lender unpaid, Lender may require that any or all subsequent payments due under the Note and this Security Instrument be made in one or more of the following forms, as selected by Lender: (a) cash; (b) money order; (c) certified check, bank check, treasurer's check or cashier's check, provided any such check is drawn upon an institution whose deposits are insured by a federal agency, instrumentality, or entity, or (d) Electronic Funds'lransfer. Payments are deemed received by Lender when received at the location designated in the Note or at such other location as may be designated by Lender in accordance with the notice provisions in Section 15. Lender may return any payment or partial payment ifthe payment or partial payments are insufficient to bring the Loan current. Lender mayaccept anypapnent or partral payment insuRrcmnt to bring the Loan current, without waiver ofany rights hereunder or prejudice w its nghts to refuse such payment ur partial payments in dre furore, but Lender is not obligated to apply such payments at the time such payments aze accepted. Ifeach Periodic Payment is applied as of its scheduled due date, then Lender need not pay interest on unapplied funds. lender may hold such unapplied finds until Borrower makes payment o bring the I= content if Borrower does not do so within a reasonable period of time, Lender shall either apply such funds or return them to Borrower. Lfnot applied earlier,such(unds will be applied tothe outstanding principal balance under the Note immediately poor to foreclosure. No offset or claim which Borrower mlpjrt have now or in the future a ainst lender shall relieve Borrower from making payments due under the Note and this Security Instrument or performing the covenants and agreements secured by this Security Instrument. 2. Application of Payments nr Proceeds. Except as otherwise described in this Section 2, all payments accepted and applied by Lender shall be applied in the tollo3. Such order of is sh I he applied due under the Note; (b) prncipal due under the Note; (c) amounts due under Section shall Such payments shall be applied e each Periodic Payment m the order m which it became due. Any remaining amounts shall be applied first to late charges, second to any other amounts due under this Security instrument, and then to reduce the principal balance ofthe Note. NEHKASRA- Single Family Fannie MacTreddie Mac UNIFORM INSTRUMENT Form 3828 1/81 (page 2 of8pages) 9754.CV(1/02) 1684679 GOTO(0004d284)